Singtel's net profit fell 0.8% in Q2 2015

Singtel's net profit fell 0.8% in Q2 2015

Singtel has reported a muted Q2 net profit of $727.2 million (S$1.03 billion), a decline of 0.8% compared to the same period last year.

Revenue fell 3% to $2.94 billion (S$4.18 billion), as a result of the declining Australian dollar while EBITDA dipped 3% to S$1.29 billion.  

“This quarter, we have again strengthened our position across Singapore, Australia and the associates' markets," said Chua Sock Koong, Singtel’s CEO.

"While currency weakness has affected our reported numbers, our underlying performance is resilient.” 

The Australian dollar saw a decrease of 13% against the Singapore dollar during the quarter, according to Singtel. Its Optus unit contributed S$2.33 billion to group revenues, a decrease from S$2.49 billion a year ago while EBITDA fell to S$712 million from S$755 million.

Singtel expects recent changes implemented by Australia’s anti-competition authority to reduce incoming mobile service revenue at its Optus unit by A$200 million.

Chua noted that mobile data growth continues to be a focus for the operator and pointed to its multi-year investments in a new data centre in Singapore, as well as its investments in 3G and 4G network infrastructure and spectrum as its commitment to growth.

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